Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.007%

Price spread now: gTrade (Gains Network) against BloFin−0.398%110s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.398% cheaper against BloFin than usual: you would sell low and buy high (−$40 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003391	0.0075	pay 0.0037% / 4h	49m 32s	$1.0M	$19.7M	75x
Short	gTrade (Gains Network) BONK/USD	0.000003377	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	49m 32s	$23	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.398%Rate

Funding earned: −$15.89
Price spread: −0.398% → 0.000%: −$39.81
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$77.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 2 min ago	4.42 bp	10.7 bp −$11	18.5 bp −$185	58.4 bp −$5,838	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BONK on 31 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003377	−0.398%	$23	—	150x
Coinbase International 1000BONK-PERP-INTX	+0.0032%	1h	0.000003410	+0.560%	$44K	$89K	50x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.450%	$3K	$57	5.5x	as long as short
BloFin 1000BONK-USDTlong	+0.0075%	4h	0.000003391	long leg	$1.0M	$19.7M	75x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003388	−0.100%	$4	—	15x	as long as short
dYdX BONK-USD	+0.0095%	1h	0.000003389	−0.056%	$13K	$12K	10x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003390	−0.029%	$227K	$752K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003398	+0.221%	$63K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003392	+0.029%	$46K	$210K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003389	−0.059%	$112K	$150K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003391	−0.012%	$17.3M	$90.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003394	+0.103%	$11.7M	$26.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003391	0.000%	$2.9M	$14.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003389	−0.059%	$901K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003389	−0.059%	$10.6M	$10.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003392	+0.029%	$2.8M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003389	−0.059%	$4.3M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003381	−0.295%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003389	−0.071%	$320K	$137K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003393	+0.059%	$57K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003397	+0.177%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003397	+0.177%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003397	+0.177%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003392	+0.029%	$90K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003388	−0.078%	$21K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003396	+0.147%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−11.531%	$402	—	100x	as long as short
Hyperliquid kBONK	+0.0353%	1h	0.000003393	+0.059%	$11.6M	$8.2M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0634%	1h	0.000003398	+0.206%	$23K	$152K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1171%	1h	0.000003397	+0.177%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1405%	1h	0.000003396	+0.148%	$175K	$256K	50x	as long as short